SEDA news and events
- EMDG has been increased to $50 million in total
- The export performance test for applications in 2019–20 grant year has been taken out
- Businesses incurring eligible EMDG expenses for promotional activities in 2019–20 will be able to seek reimbursement for 50% of these expenses without the Export Performance Test applying.
What is the Victorian Business Growth Fund?
Together with First State Super and the Victorian Government, the fund is targeted at Small and medium businesses who are ready to grow their business but can’t access the funds or find the right partner they need to take the next step.
All applications and expressions of interest will be assessed and decided by Roc Partners, a specialised private equity investment firm. Roc Partners will invest in businesses on commercial terms and take either an equity or debt stake in businesses over providing a grant.
What businesses are eligible?
Please see below the eligibility criteria for The Victorian Business Growth Fund :
- Can demonstrate a Strong business case for growth in a Victorian business, fund growth of a business expanding into Victoria, lead to meaningful job creation in Victoria or add meaningful capital investment in Victoria
- have annual revenue of between $5 million and $100 million
- have no more than $250 million in assets
- have positive cash flow, or cash flow is expected to be positive during the investment
Please contact Roc Partners through their website to express your interests.
Monthly reporting for JobKeeper Payments
If you’ve enrolled for the JobKeeper Payment and identified your eligible employees, you need to make a business monthly declaration to us. You will be able to do this from the 1st to the 14th day of each month, to receive reimbursements for the payments you have made to your employees in the previous month. Visit the ATO website for information about the business monthly declaration.
Get ready - second round of cash flow boosts
If you received initial cash flow boosts, you'll automatically receive additional cash flow boosts when you lodge your activity statements for each monthly or quarterly period from June to September 2020. Visit the ATO website for more information about second round cash flow boosts and details on lodgments...
Get ready for Tax Time
Your find tips that will help your business get ready for Tax time. Visit the ATO website for more information...
Claiming instant asset write-off in tax time 2020
For the $150,000 new threshold your asset must be ready for use by 30 June 2020. If you've purchased or are planning to purchase assets for your business, you may be eligible to claim an immediate deduction under the instant asset write-off expansion. From 12 March to 30 June 2020 (inclusive), the instant asset write-off threshold for each asset increased to $150,000 (from $30,000). Visit the ATO website for more information...
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The Fair Work Commission has announced a 1.75% increase to the National Minimum Wage (NMW) following its 2020 Annual Wage Review. The increase applies to awards in 3 stages, which start from the first full pay period on or after:
- 1 July 2020
- 1 November 2020 – (commencement date for Horticulture Award)
- 1 February 2021
Please note that the increase should be applied to those under the Horticulture Award, from the first full pay period on or after 01 November 2020. Follow this link for more information - https://www.fairwork.gov.au/about-us/news-and-media-releases/website-news/the-commission-has-announced-a-1-75-increase-to-minimum-wages#when-will-my-award-increase
AUSVEG have engaged legal advice to provide a guide which details what Unions can and cannot do on Farms. Please see the attached PDF for more information...
At this time there are a number of options for Growers seeking seasonal labour. The Australian Government is supporting access to labour through:
The National Farmers’ Federation (NFF) has compiled a one pager that contains information about the recent Full Federal Court decision in the matter of WorkPac v Rossato. The decision confirms that employees who were notionally engaged as casuals but can demonstrate that they were working fixed, regular shifts are considered to be permanent employees in the eyes of the law. The practical effect is that those employees can retroactively claim leave and other entitlements of permanent employees despite having received a casual loading. Visit the NFF website here...
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